The two clubs reached an agreement over a €23.4 million (£20m) deal that will be spread over five years to see the Italy international move to San Siro.

Balotelli is expected to earn €4m (£3.4m) a year, a paycut from his current £110,000 per week deal at the Premier League champions, and sign a four-and-a-half year contract with Massimiliano Allegri's side.

The striker is currently in London ahead of City's Premier League clash with QPR at Loftus Road on Tuesday evening but is believed to have a private jet on standby at London's City airport.

Milan revealed via their Twitter account that "Balotelli's medicals will take place [on Wednesday] at Busto Arsizio and Milanello", while his first training session with the team will take place on Thrusday.

City were understood to be holding out for £22 million from Milan, while also insisting that a 15 per cent sell-on clause is added to any deal, but it is believed the club have since eased their stance.

The 22-year-old said goodbye to team-mates and club staff after Monday morning's training session at Carrington, as he prepared to leave for Italy after a tumultuous time in England.

Balotelli's stock fell after a training ground bust-up with manager Roberto Mancini, and although he was subsequently dropped from the first-team but given a reprieve by the 48-year-old, he was made available for transfer.